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Shaheen, Warner: Oil Companies Need to Increase Production, They’re Sitting on Oil to Increase Price
Breitbart ^ | 03/03/2022 | Ian hatchett

Posted on 03/03/2022 4:49:23 PM PST by ChicagoConservative27

On Thursday’s broadcast of MSNBC’s “Andrea Mitchell Reports,” Sens. Mark Warner (D-VA) and Jeanne Shaheen (D-NH) argued that oil companies are not producing as much as oil as they could to keep the price high and these companies need to increase production to help combat Russia’s energy wealth.

After both Senators called for an embargo on Russian oil, Shaheen said, “I know there’s hardship on the American people and on everybody who is affected by these high gas prices, but the other thing we need to do is we need to call on our CEOs of the major oil companies to stop sitting on production and increase production. They’ve been sitting on the amount of production because they want to keep the price high. Well, the world needs them to respond now as well. They need to do this so that they can support the free world as we’re trying to fight this tyrant who is trying to put — capture the democracies of the world. And so, we need to all stand together here.”

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: oil; production; shaheen; warner
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To: Brian Griffin

Gas prices have just about or have doubled in less than a year. Even rabid left-wing nut jobs feel the pain


21 posted on 03/03/2022 5:11:30 PM PST by cableguymn
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To: hinckley buzzard

The oil companies. Do you think they’re willing to put America first? They’re like Apple not cooperating with the US government to unlock the iPhone of a terrorist.

We need more small, independent companies out there willing to drill for a smaller profit just to keep busy.


22 posted on 03/03/2022 5:16:30 PM PST by DIRTYSECRET (S)
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To: ChicagoConservative27

They should drill less to save the environment, isn’t that what the idiot in the White House wants


23 posted on 03/03/2022 5:18:41 PM PST by italianquaker
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To: ChicagoConservative27

To the X.


24 posted on 03/03/2022 5:21:04 PM PST by DoughtyOne (I pledge allegiance to the flag of the U S of A, and to the REPUBLIC for which it stands.)
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To: ChicagoConservative27
Oil companies don't produce in a vacuum. They control their depletion of reservoirs based on the replacement of crude from their other explorations.

If Biden cancels new leases and prevents drilling on current leases, oil companies are forced to ration the production of existing fields because the replacement oil has now become unreliable.

The oil companies cannot balance the production of oil with the discovery of replacement oil when Biden cancels their ability to replace oil, so it's in the oil companies' interest to restrict production rather than increase production with no guarantee of being able to replace that oil from new fields.

Psaki says the oil companies have plenty of undeveloped leases they can drill on. The oil companies have the leases, but that doesn't guarantee that there is oil on them, or that any oil is economically accessible. Depleting an oil reservoir has to be modeled and planned, so that over-producing doesn't damage the reservoir and actually make it produce less over time.

-PJ

25 posted on 03/03/2022 5:27:15 PM PST by Political Junkie Too ( * LAAP = Left-wing Activist Agitprop Press (formerly known as the MSM))
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To: ChicagoConservative27

That’s how oil works. There is more than gas stations.


26 posted on 03/03/2022 5:27:40 PM PST by ImJustAnotherOkie (Let's go Brandon)
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To: ChicagoConservative27

Yep, just turn a couple valves and “presto”. More oil.


27 posted on 03/03/2022 5:30:53 PM PST by crusty old prospector
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To: DIRTYSECRET

Most of the drilling in America is from independent companies. Some have become quite large but they are not Exxon or Shell.


28 posted on 03/03/2022 5:32:41 PM PST by crusty old prospector
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To: ChicagoConservative27

They think oil production is like like buying solar panels 🤪

How can people this stupid be in charge of so much?!


29 posted on 03/03/2022 5:51:25 PM PST by NWFree (Somebody has to say it)
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To: dfwgator

Oh NOW they love oil

No. They fear us! And they know they shut down all the oil production for solar powered windmills. They have polled this and know they are in serious deep shit!


30 posted on 03/03/2022 6:02:40 PM PST by The MAGA-Deplorian ( 2022 - VOTE THE BUMS OUT —— ALL OF THEM! RE-ELECT NO ONE!!)
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To: ChicagoConservative27

You have got to be kidding. They have been *prohibited* from increasing production.


31 posted on 03/03/2022 6:10:06 PM PST by Republican Wildcat
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To: cableguymn

*more* than doubled. $1.50 to $3.70


32 posted on 03/03/2022 6:11:32 PM PST by Republican Wildcat
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To: falcon99
It is always the same with these retard democrats. They create the problem and then blame others for the results of their actions.

Today's Progressives are cultists. Cults are unreasonable, can't be negotiated with, don't accept responsibility and DO blame anybody for actions they take. The Democrat Party is nothing more than a grand alliance between several cults.

33 posted on 03/03/2022 6:17:03 PM PST by Tallguy
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To: SaxxonWoods

Pumps right out of the ground into the gas tank.


34 posted on 03/03/2022 6:22:28 PM PST by cp124 (Living under medical tyranny. )
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To: ChicagoConservative27

Does no good to drill it if you can’t frack it…oil isn’t in big voids in the earth. It’s in very tight rock deep in the earth. If you can’t break the rocks or shales by fracking them, no oil will flow out…..these phucking idiots lie about everything….we been fracking these rocks for 50 years….


35 posted on 03/03/2022 6:56:40 PM PST by Hogblog
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To: throwthebumsout

Great Post!


36 posted on 03/03/2022 7:59:18 PM PST by Pagey (Valerie Jarrett. She IS STILL in DC creating More Havoc on This Country. )
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To: cableguymn

“Even rabid left-wing nut jobs feel the pain”.

This is an excellent time to get to quora.com. They’re not all 12-year-olds (but it’s close). ;)

Remind the loonies there on every page.


37 posted on 03/03/2022 8:05:49 PM PST by Does so (Americans had no desire for war between 1939 and 1941. Rheinland? Sometimes War Finds YOU!)
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To: ChicagoConservative27

Why would anyone expect anything different from the Leftist Dems? The one and only thing that motivates them to ask for more oil production is to lower oil company profits. They are completely obsessed with beating down oil companies, no matter what (full disclosure - I own not one single share of any oil company, not even indirectly, and I don’t work for one or have anyone in my family who does).

National security and the national interest are (and always have been) as far from the simple minds of Democrats at the price of cheese on the dark side of the Moon.


38 posted on 03/03/2022 8:16:20 PM PST by Ancesthntr (“The right to buy weapons is the right to be free.” ― A.E. Van Vogt, The Weapons Shops of Isher)
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To: ChicagoConservative27; All

So are desperate Democrats planning to make sure of lower gas prices and back-to-normal store inventories before election and take credit for fixing economy to try to win in November?


39 posted on 03/05/2022 5:21:51 PM PST by Amendment10
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